AL SB228

Establishes the "Equality in Financial Services Act" to prohibit large financial institutions (banks with $20+ billion in assets and payment processors with $20+ billion in annual transactions) and insurers from using "social credit scores" to discriminate in providing services.

Defines "social credit score" to include evaluation of a person's religious exercise, political speech, firearm ownership, abortion-related services, environmental/diversity practices, or business relationships with firearms, oil, or gas companies.

Requires financial institutions to provide detailed written explanations within 14 days if they deny or terminate services, and allows customers to request reasons within 90 days of service denial.

Allows religious exemptions for institutions or insurers claiming a religious purpose when making service determinations based on customers' religious beliefs, exercise, or affiliations.

Authorizes the Alabama State Banking Department and Department of Insurance to investigate complaints, impose fines of $10,000 to $30,000 for violations, and allows harmed individuals to file civil suits for actual damages plus attorney fees; becomes effective October 1, 2025.